Should the U.S. declare itself a developing country?
. LDCs include Burundi, Mauritania, Myanmar, and Zambia, the U.N. lists 47, and 36 are currently WTO members. The WTO sets the rules for global trade, and the world depends on these rules to provide some stability. Producers and exporters like a stable framework to operate within.
Countries self-declare their status to the WTO. Among the list of developing countries: China, South Korea, and Singapore. China is a member of the Group of 20 and accounted for almost 12% of global merchandise trade from 2015-2017. South Korea is an OECD member, a G-20 member, and is listed as a “high-income country” by the World Bank, in addition to accounting for almost 3% of all global merchandise trade.
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